Jeez Fosters really butchered the buyback didn't they?... Keeping the price stoked up at $1.50-$1.60 whilst buying back millions worth of stock and now that the price is actually looking like good value they have it on hold. It was a great initiative from management but terribly executed.
So tempted to buy more today but something stops me...
They do say sell in May & go away.
Greek default looms and with the French govt also looking to wriggle out of austerity measures this could be just the beginning of another serious slaughtering on the ASX. We've had fairly plain sailing for most of this year so we are overdue for some sort of disaster & I believe this could be it.
IOH Price at posting:
$1.22 Sentiment: Hold Disclosure: Held